MAYWEATHER $15M purse not GUARANTEED! COULD FIGHT FOR FREE!

[keypool]

From writer Steve kim of MAXBOXING:
Can Juarez Finally Nab a Title?

NEEDS MONEY

The word around town was that in the wake of his rib 'injury' that Floyd Mayweather met with Don King last week, for whatever reason. It wasn't long ago that Mayweather talked of being a billionaire. Well, I guess the economy has affected even this young would-be mogul.

A couple of sources tell me that while Juan Manuel Marquez got his purse guaranteed for July 18th ($4 million, of which 3.2 million went to Marquez, the rest to Golden Boy Promotions), with Mayweather being the promoter of this event in association with GBP, that he was on the hook for things like 24/7, the press tour, the undercard and any other costs that are normally expensed to the promotion. I was told earlier that he was guaranteed $15 million. That simply isn't so, said one source, because it that were true - he'd be going through with this fight, regardless. But as the promoter, he is/was taking the financial risk.

Mayweather and his crew had hoped to make a few more bucks on this fight by scalping their tickets on the secondary market, but when those didn't sell to the public, another revenue source dried up.

Then I'm told that there are outstanding issues like the $3 million loaned to him by his adviser, Al Haymon, the money he owes two jewelers (said to be in upwards of $2.5 million) and the remaining issues with the IRS (where it's been reported he owes more than $6 million and I'm pretty sure they would have been very interested observers of what took place on July 18th).

Add that all up, and if that fight would've taken place on July 18th and it didn't do in excess of 500,000 buys (and there's a good chance it wouldn't have), then Mayweather was looking at the prospect of fighting, if not for free, but for very little.

Good thing he has Philthy Rich Records, though.

[OumaFan]

Who knows Steve Kim is one of the more reliable boxing reporters IMO.

Would Floyd being a f*** up with his money be a shock to anybody?

[jon09]

This does not surprise me. From his 100k gambling issues to his jewelry, fast cars houses lackeys strip clubs etc etc. Mayweather will end up like Tyson, Holyfield, Robinson and Louis. There is no way to live that lifestyle and expect it to last. I hate to say it but I'm sure there will be a thread in the future about Mayweather being in the fight game to long after his prime and when he should retire after some bum beats him. The fall of Mayweather is in the works.

[LEGION]

LOL too bad, so sad. Along the same lines as Ouma: is this really front page news to anyone, about Floyd's seeming inability to properly handle his finances? Doofus

[toogood4u]

what do he retiredat the wrong time.....man less then a yrand he blows all his money.....DAM i cant imagine what he spent his money on.

[The Congressman]

No longer the "money" mayweather. He's having hard time getting the IRS on his tail while the penaties are piling up. Poor douche.

[toogood4u]

i was looking at vids for mayweather....and i figure it out a lil bit

the dude probably doesnt have alot of money in bank accounts but ithink he has a hell of alot of money in cash.

just look at his vids amn he carreis like 1 million in a duffle bag, he probably has like 10 of those just so hedoesnt have to pay taxes, obviously that did work

[Kel]

i was looking at vids for mayweather....and i figure it out a lil bit

the dude probably doesnt have alot of money in bank accounts but ithink he has a hell of alot of money in cash.

just look at his vids amn he carreis like 1 million in a duffle bag, he probably has like 10 of those just so hedoesnt have to pay taxes, obviously that did work

Taxes for keeping money in the bank?

[Diane]

i was looking at vids for mayweather....and i figure it out a lil bit

the dude probably doesnt have alot of money in bank accounts but ithink he has a hell of alot of money in cash.

just look at his vids amn he carreis like 1 million in a duffle bag, he probably has like 10 of those just so hedoesnt have to pay taxes, obviously that did work

Taxes for keeping money in the bank?

In the US, if the interest you gained on money in the bank, is over a certain amount, you have to pay tax on it.

[fan johnny]

From writer Steve kim of MAXBOXING:
Can Juarez Finally Nab a Title?

NEEDS MONEY

The word around town was that in the wake of his rib 'injury' that Floyd Mayweather met with Don King last week, for whatever reason. It wasn't long ago that Mayweather talked of being a billionaire. Well, I guess the economy has affected even this young would-be mogul.

A couple of sources tell me that while Juan Manuel Marquez got his purse guaranteed for July 18th ($4 million, of which 3.2 million went to Marquez, the rest to Golden Boy Promotions), with Mayweather being the promoter of this event in association with GBP, that he was on the hook for things like 24/7, the press tour, the undercard and any other costs that are normally expensed to the promotion. I was told earlier that he was guaranteed $15 million. That simply isn't so, said one source, because it that were true - he'd be going through with this fight, regardless. But as the promoter, he is/was taking the financial risk.

Mayweather and his crew had hoped to make a few more bucks on this fight by scalping their tickets on the secondary market, but when those didn't sell to the public, another revenue source dried up.

Then I'm told that there are outstanding issues like the $3 million loaned to him by his adviser, Al Haymon, the money he owes two jewelers (said to be in upwards of $2.5 million) and the remaining issues with the IRS (where it's been reported he owes more than $6 million and I'm pretty sure they would have been very interested observers of what took place on July 18th).

Add that all up, and if that fight would've taken place on July 18th and it didn't do in excess of 500,000 buys (and there's a good chance it wouldn't have), then Mayweather was looking at the prospect of fighting, if not for free, but for very little.

Good thing he has Philthy Rich Records, though.

Home - Philthy Rich Records - Floyd Mayweather Jr.'s Record label - Feat. H-flow, Postaboy, Baggz Lombardi. Las Vegas based rap & hip hop music label. lv demo tapes, filthy rich, da coach

Right!

[Kel]

i was looking at vids for mayweather....and i figure it out a lil bit

the dude probably doesnt have alot of money in bank accounts but ithink he has a hell of alot of money in cash.

just look at his vids amn he carreis like 1 million in a duffle bag, he probably has like 10 of those just so hedoesnt have to pay taxes, obviously that did work

Taxes for keeping money in the bank?

In the US, if the interest you gained on money in the bank, is over a certain amount, you have to pay tax on it.

That's a bit of a pisser I never knew that. Cheers for clearing that up

[Kel]

From writer Steve kim of MAXBOXING:
Can Juarez Finally Nab a Title?

NEEDS MONEY

The word around town was that in the wake of his rib 'injury' that Floyd Mayweather met with Don King last week, for whatever reason. It wasn't long ago that Mayweather talked of being a billionaire. Well, I guess the economy has affected even this young would-be mogul.

A couple of sources tell me that while Juan Manuel Marquez got his purse guaranteed for July 18th ($4 million, of which 3.2 million went to Marquez, the rest to Golden Boy Promotions), with Mayweather being the promoter of this event in association with GBP, that he was on the hook for things like 24/7, the press tour, the undercard and any other costs that are normally expensed to the promotion. I was told earlier that he was guaranteed $15 million. That simply isn't so, said one source, because it that were true - he'd be going through with this fight, regardless. But as the promoter, he is/was taking the financial risk.

Mayweather and his crew had hoped to make a few more bucks on this fight by scalping their tickets on the secondary market, but when those didn't sell to the public, another revenue source dried up.

Then I'm told that there are outstanding issues like the $3 million loaned to him by his adviser, Al Haymon, the money he owes two jewelers (said to be in upwards of $2.5 million) and the remaining issues with the IRS (where it's been reported he owes more than $6 million and I'm pretty sure they would have been very interested observers of what took place on July 18th).

Add that all up, and if that fight would've taken place on July 18th and it didn't do in excess of 500,000 buys (and there's a good chance it wouldn't have), then Mayweather was looking at the prospect of fighting, if not for free, but for very little.

Good thing he has Philthy Rich Records, though.

Home - Philthy Rich Records - Floyd Mayweather Jr.'s Record label - Feat. H-flow, Postaboy, Baggz Lombardi. Las Vegas based rap & hip hop music label. lv demo tapes, filthy rich, da coach

Right!

Looks like it's doing great huh?

[paddy448]

at the end of the day the man has probably made 100 mil minimum so far in his career i seriusly doubt hes skint. he could pay off the irs and his other debts no problem. i think all this talk is exactly what it seems, all talk and no fact

[keypool]

I think the other point in the article is that Floyd's $15M GUARANTEED purse is all hogwash.

Being the lead promoter (Mayweather promotions), he gave it to himself as a publicity stunt, to show the world that he commands more $$$ than Pac and Hatton who only got $12M guaranteed purse in their last fight. He was probably thinking of making it as a negotiation leverage in case he and Pac fights in the future.

Apparently, the $15M guaranteed purse is a fraud.

[Taeth]

i was looking at vids for mayweather....and i figure it out a lil bit

the dude probably doesnt have alot of money in bank accounts but ithink he has a hell of alot of money in cash.

just look at his vids amn he carreis like 1 million in a duffle bag, he probably has like 10 of those just so hedoesnt have to pay taxes, obviously that did work

That money has to come from somewhere, and I get the impression Floyd doesn't keep the money very long. He gets taxed at the end of the year based on how much he makes in the fight, unless he was given cash after the fight, in which case he would have to launder millions of dollars.